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bacasper
Joined: 26 Mar 2007
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 Posted: Sun Sep 13, 2009 9:16 am Post subject: UN: Replace $ with global currency |
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Stiglitz's U.N. Panel: Replace the Dollar
The commission led by Nobel economist Joseph Stiglitz recommends a new global currency, disbanding the G-20, and other bold fixes.
By Steve LeVine
A U.N.-appointed international panel led by Nobel laureate economist Joseph Stiglitz has urged a replacement of the dollar as the global currency, doing away with the Group of 20 financial organization, a global restriction on the size of banks, and a limit on bank transactions with tax havens.
The Stiglitz-led U.N. Commission of Experts, appointed in October to recommend how to overcome the global financial crisis, also proposed tight limits on financial risks that banks can assume. The group's report is to be issued Mar. 26, but a shorter, preliminary version has already been distributed.
The U.N. report joins numerous proposed financial-system fixes in recent days by world leaders, experts, and multilateral bodies. This latest report comes a week before the heads of state of the 20 largest industrial and developing nations meet to try to coordinate a response to the financial crisis.
Sharp Differences?
It won't be easy. The U.S. is continuing to push greater fiscal stimulus by all the countries, the European Union is urging decisive financial regulation, and China this week proposed replacing the dollar. The leaders argue forcefully that the media has exaggerated their differences. Yet, in one illustration of the sharp divide, Mirek Topolanek, the Prime Minister of the Czech Republic, which holds the European Union's rotating presidency, on Mar. 25 denounced the Obama Administration's stimulus and bailouts.
"All of these steps, these combinations and permanency, is the road to hell," Topolanek said. "The United States did not take the right path."
Although written by an 18-member panel of experts, the U.N. report often corresponds with ideas long advocated by the iconoclastic Stiglitz, who resigned as the World Bank's chief economist in 1999 after serious policy differences with the Clinton Administration.
The report says that its recommendations are the result of concluding that "the rapid spread of financial crisis from a small number of developed countries to engulf the global economy provides tangible evidence that the international trade and financial system needs to be profoundly reformed."
concludes at link |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sun Sep 13, 2009 11:14 am Post subject: |
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I am very surprised that the UN has decided that a global currency is necessary.
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| The report says that its recommendations are the result of concluding that "the rapid spread of financial crisis from a small number of developed countries to engulf the global economy provides tangible evidence that the international trade and financial system needs to be profoundly reformed." |
Yes. Now, the "rapid spread of financial crisis" will completely dominate the entire globe.
It won't happen. The IMF's SDR is just a superfiat currency. The first big trading bloc (or country) who goes gold wins. China is in the lead. They might not explicitly back the currency with gold but instead the entire country. The UN is a fantasy plaything of European and other unimportant states + naive hippies in the US (and elsewhere). The big players are realists and not idealists. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Sun Sep 13, 2009 11:48 am Post subject: |
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| mises wrote: |
I am very surprised that the UN has decided that a global currency is necessary.
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| The report says that its recommendations are the result of concluding that "the rapid spread of financial crisis from a small number of developed countries to engulf the global economy provides tangible evidence that the international trade and financial system needs to be profoundly reformed." |
Yes. Now, the "rapid spread of financial crisis" will completely dominate the entire globe.
It won't happen. The IMF's SDR is just a superfiat currency. The first big trading bloc (or country) who goes gold wins. China is in the lead. They might not explicitly back the currency with gold but instead the entire country. The UN is a fantasy plaything of European and other unimportant states + naive hippies in the US (and elsewhere). The big players are realists and not idealists. |
Some kind of gold standard is our only hope. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Sun Sep 13, 2009 6:02 pm Post subject: |
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| mises wrote: |
| I am very surprised that the UN has decided that a global currency is necessary. |
How are you surprised? We've been calling it on here for ages already. It was never a conspiracy theory: the bankers control the world, fund all the globalists institutions, and the UN is template for eventual world government. No secret.
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| Quote: |
| The report says that its recommendations are the result of concluding that "the rapid spread of financial crisis from a small number of developed countries to engulf the global economy provides tangible evidence that the international trade and financial system needs to be profoundly reformed." |
Yes. Now, the "rapid spread of financial crisis" will completely dominate the entire globe.
It won't happen. The IMF's SDR is just a superfiat currency. |
Yes, this is the point. It allows the banksters, having ruined the US and its currency to benefit themselves, to start a new, even bigger ponzi scheme, outside national borders, with zero democratic oversight, and effectively use it to indebt/enslave the world to their world central bank. This has always been the plan; this is what they do.
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| The first big trading bloc (or country) who goes gold wins. China is in the lead. They might not explicitly back the currency with gold but instead the entire country. |
Question: who owns most of the gold in the world? Could it be the banks who will be issuing the new global fiat currency? As far as I know, the US government hasn't had much gold for some time. Where is the gold in Fort Knox?
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| The UN is a fantasy plaything of European and other unimportant states + naive hippies in the US (and elsewhere). The big players are realists and not idealists. |
The big players are the ones who envisioned and put the UN into place, and the ones who control the banks. The Rockefellers of the world. They want world government to back their new global fiat ponzi scheme and bully each nation to accept it, and accept their permanent indebtedness to it. Simple as that. |
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saw6436
Joined: 16 Jan 2003
Location: Daejeon, ROK
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| Posted: Sun Sep 13, 2009 8:16 pm Post subject: |
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| The US has some 8,000+ tons of gold in reserves. The EU some 10,000 tons. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sun Sep 13, 2009 8:18 pm Post subject: |
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| Nobody knows, actually. The gold has been leased out with many duplicate numbers appearing (so GATA says). |
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Moldy Rutabaga
Joined: 01 Jul 2003
Location: Ansan, Korea
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| Posted: Mon Sep 14, 2009 1:58 am Post subject: |
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An innocent question: Why do we need a global currency? What are the actual advantages to having one? How could there possibly be worldwide consensus on monetary policy or supply?
Ken:> |
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visitorq
Joined: 11 Jan 2008
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| Posted: Mon Sep 14, 2009 8:45 am Post subject: |
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| Moldy Rutabaga wrote: |
An innocent question: Why do we need a global currency? What are the actual advantages to having one? How could there possibly be worldwide consensus on monetary policy or supply?
Ken:> |
The banks will make the usual bogus claims that they will be stabilizing the monetary system, adding liquidity, and "saving the day" etc. etc.
In fact there is zero benefit, and a whole lot of hurt in store. Literally the only thing this will do is create a new endless supply of debt out of thin air, and this will become the new money supply. Money as debt -- this has always been the problem, and this is the same old scam they've been pulling for centuries. The only difference this time will be that all the major economies of the world will become enslaved to a new world central bank (much as poorer countries are enslaved to the IMF now).
Think of it this way: you wanna vote in a new president to represent you and the rest of the 'little people'? Well, fat chance after this. He'll be taking his orders straight from the financial oligarchs (banksters) who will own the private world bank, and he won't even have a choice in the matter. If he goes out of line, they'll just turn off the money supply and destroy the economy. Since the entire world will be permanently indebted to the new global fiat fraud money (requiring newer and bigger loans all the time to keep the debt based system running, much like what is happening in the US with the Fed), any country that steps out of line will be cut off, its economy isolated and bankrupted. Both national sovereignty and democratic representation will be undermined altogether. Government would invariably expand in every country (all funded by the banks), and work hand in hand to bring greater tyranny unto the people, much as is happening in the US right now.
In short, the only possible outcome would be the eventual collapse and ruination of the entire world economy on an epic scale and untold amounts of misery. No exaggeration... |
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some waygug-in
Joined: 25 Jan 2003
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bacasper
Joined: 26 Mar 2007
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| Posted: Mon Sep 14, 2009 5:59 pm Post subject: |
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So you're saying that a global currency will bring about an economic collapse which will end up exterminating 3-4 billion people?
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some waygug-in
Joined: 25 Jan 2003
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AllisonL
Joined: 24 Jul 2009
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| Posted: Tue Sep 15, 2009 12:34 am Post subject: |
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| global currency would be convenient for travelling |
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5600
Joined: 07 Apr 2008
Location: At an undisclosed FEMA camp.
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| Posted: Tue Sep 15, 2009 3:09 am Post subject: |
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| saw6436 wrote: |
| The US has some 8,000+ tons of gold in reserves. The EU some 10,000 tons. |
Actually it all went to the IMF. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Tue Sep 15, 2009 4:12 am Post subject: |
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| AllisonL wrote: |
| global currency would be convenient for travelling |
Traveling?? The only traveling you'll be doing if these people have their way is to and from the revenue department to pay your carbon taxes. Then it's back to the fields to plough down. By hand. |
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ubermenzch
Joined: 09 Jun 2008
Location: bundang, south korea
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